Artificial Intelligence and Retail: Serving millions with 0s and 1s

itproportal | March 05, 2020

In recent years, there has been a greater demand on retailers to adapt to rapid changes in consumer attitudes and the marketplace in order to keep up. Customer experience is very much dependant on retail operations, which have the potential to make or break a customer’s journey. It’s imperative for retailers to adopt a globally competitive business model, and using artificial intelligence technologies can break down barriers and make it easier to communicate with customers. It’s now become possible for businesses to continuously scrutinise customer behaviour data and generate alerts through the power of machine learning.

Spotlight

MOBILE POS BEYOND RETAIL It’s not just retail that’s riding the coat-tails of mobile POS. One science museum met donation and membership goals thanks to a tablet-based mobile POS solution. 88% increase in donor loyalty potential with a mobile POS solution. Donations up 15%, administrative overheads down.


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POS SOLUTIONS

After the rapid growth in Egypt, OPay Group is targeting a major expansion in North Africa and the Arab region

OPay | February 28, 2022

Recently,"OPay" wins the best new POS payment service provider in Egypt for 2021 award from "The Global Economics". According to a press report published by Forbes Middle East magazine, OPay is one of the most prominent companies that have appeared on the electronic payments scene in Egypt as a result of support followed by the Egyptian state. It is also considered one of the fastest growing companies in the Egyptian market since its first launch in Egypt at the start of 2021, OPay Group quickly gained the confidence of thousands of merchants that utilize its points of sale (POS) to collect bills and other payments. Due to the steps taken by Egyptian President, Abdel Fattah El-Sisi, and the support provided by Tarek Amer, Governor of the Central Bank of Egypt, has paved the way for the faster digital transformation of the Egyptian banking sector. The country embraces digital transformation and cashless transactions. The international "OPay" group for financial technology services and electronic payments grow fast.Under Amer's leadership, the central bank has made the transition to cashless transactions easier, reduced the reliance on cash, and expanded the provision of mechanized services. The report mentioned that "OPay" Group was founded in 2018, and risen to become a top financial services provider, operating in Nigeria, Egypt, and Pakistan, the company's early success is credited to its dedication to making financial services accessible to everyone, and now the group is eyeing expansion across the rest of the Middle East and North Africa this year. This remarkable development achieved by OPay is due to the integrated services it provides to its customers, in addition to the ease of access to them, as the registration on the application or the electronic portal is done in smooth and fast steps, OPay is also becoming a major driver of financial inclusion in Africa, managing to fast track the adoption of digital services through cashless and contactless payments while also improving financial and information security. In particular, OPay's mobile payment service provides a convenient financial solution to the unbanked population in Africa, with 160 million active users currently generating around $3 billion in monthly transactions. The international "OPay" group confirmed that it provides a suite of bespoke, customer-centric financial solutions that include offline and online payment options and a digital wallet service using the power of AI. Notably, OPay's online gateway (OPay checkout) hosts a set of high-quality services, integrated solutions, and an excellent commission scheme, which enable small- and medium-sized businesses to achieve profit growth. OPay Group's continued success follows a $400 million funding round last August, which increased the company's valuation to $2 billion. The successful round motivated OPay to venture towards territories in North Africa - particularly Egypt, where the group has achieved monumental success in less than a year, delivering the best possible financial solutions for customers, merchants, and small and medium businesses, and OPay plans to expand to more territories by the end of the year, including the U.A.E. It also aims to enhance its current suite of financial services and adapt to new security standards to keep customer data safe and secure.

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POS RETAIL

B-Stock Announces ReverseLogix as Returns Management Solutions Partner

ReverseLogix | June 10, 2022

ReverseLogix, a provider of end-to-end returns management systems, today announced a partnership with B-Stock, the world's largest business-to-business marketplace for returned, excess, and other liquidation merchandise. The partnership provides merchants with ReverseLogix's powerful returns management solution (RMS) that empowers sellers to centrally manage eCommerce product returns with B-Stock's industry-leading platform to sell and buy customer returns, overstock, and other excess merchandise. As consumers spend more time and money shopping online, retailers are looking to technology to help them orchestrate and automate product returns operations. With global eCommerce sales estimated to top $7 trillion dollars by 2025 (Statista), reverse logistics technology presents a significant opportunity for organizations to offer a well-managed customer experience beyond the initial point of sale through a returns experience that is easy for the customer and cost-efficient for the retailer. "In today's eCommerce-driven world, returns management is critical to improving profitability and delivering a superior customer experience, From providing a totally self-service returns initiation to streamlining returns processing in the warehouse, to after-sales care and resale, the ReverseLogix RMS directly addresses the need for better consumer returns experiences and more efficient returns management operations. We are thrilled to collaborate with B-Stock who, like ReverseLogix, is focused on delivering solutions that deliver true business value." -Gaurav Saran, CEO of ReverseLogix. "As a 2-sided marketplace, B-Stock provides business value to the world's largest retailers and manufacturers by allowing them to outsource their returns process to B-Stock to drive high recovery, and operational efficiency, at a fraction of the cost it would require managing the process internally, In addition to the value to large sellers, B-Stock empowers the entrepreneurs of commerce in the form of the growing number of medium to small businesses who bid and buy on B-Stock to secure the inventory they need for their resell businesses. B-Stock's platform and recommerce expertise, combined with ReverseLogix returns management software, provides an innovative approach to optimize the entire returns process." -Sean Cleland, Vice President to Sales and Partnerships. About B-Stock B-Stock is the world's largest B2B recommerce marketplace for excess [or surplus] merchandise. Businesses of all sizes leverage the B-Stock platform to sell and buy customer returns, overstock, and other excess merchandise. Our customers range from the world's largest brands and retailers (including nine of the top 10 U.S. retailers) who want best-in-class inventory management to entrepreneurs looking to source valuable merchandise for their resale businesses. B-Stock believes there is tremendous value in and demand for this inventory – no matter the category, condition, or location. We pride ourselves on empowering the entrepreneurs and innovators of commerce. Having completed over 225,000 transactions in 2021, B-Stock gives buyers a simple and direct way to buy valuable products and offers sellers a trusted replacement for traditional liquidation while boosting operational efficiency, recovery rates, and cycle time. About ReverseLogix ReverseLogix is the only end-to-end, centralized, and fully integrated returns management system built specifically for retail, ecommerce, manufacturing and 3PL organizations. Whether B2B, B2C or hybrid, the ReverseLogix platform facilitates, manages, and reports on the entire returns' lifecycle. Organizations that rely on ReverseLogix deliver a vastly superior customer returns experience, save employee time with faster workflows, and increase profits with 360⁰ insight into returns data.

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POS SOLUTIONS

Newcastle Integrates Epson POS Receipt Printer in New Mobile Powered POS Station

Epson | April 06, 2022

In today's retail and hospitality settings, frictionless check-out is a must-have to remain competitive and ensure customer satisfaction. Epson, a supplier of industry-leading Point of Sale (POS) solutions, and Newcastle Systems, a leading provider of industrial mobile-powered carts designed to make retail floors more efficient, have partnered to deliver a new, fully mobile all-in-one line-busting POS solution. Enabling businesses to create flexible and safe check-out locations from anywhere in the store – indoor or outdoor – the new Mobile Powered POS Station combines an Epson receipt printer and a lightweight, yet durable Newcastle POS powered cart. The Mobile Powered POS Station can use one of many Epson printers, including the OmniLink® TM-T88 series, TM-m30II-NT , OmniLink TM-m50, as well as the award-winning OmniLink TM-m30II-SL compact thermal with built-in tablet mount, and the recently released OmniLink TM-L100 liner-free compatible thermal label printer. "I think everyone has been in a situation in which they've abandoned a purchase, or at least considered it, because the checkout line was too long. The ideal solution to quickly eliminate long lines during peak periods, this new mobile powered POS station with an Epson printer gives businesses the flexibility to add mobile POS locations whenever and wherever they are needed, and further help to facilitate a positive customer shopping experience." Kevin Ledversis, director of sales, Newcastle Systems, Inc. The Mobile Powered POS Station offers remote power, eliminating dangerous extension cords and costly ceiling drops. Designed specifically with high-traffic retail and hospitality markets in mind, the new solution helps ensure customer and employee safety by allowing for safe distancing, with flexible check-out locations almost anywhere indoor or outdoor, making it ideal for curbside pick-up, parking lot events or garden centers. The station can also be customized to match a business's brand. "The pandemic has re-shaped the retail and hospitality market, creating a rapid shift in demand for quick and seamless check-out transactions, leaving businesses with a need for durable and flexible POS solutions that better meet their customers' needs," said Frank Anzures, product manager, Business Systems, Epson America, Inc. "Epson receipt printers are designed to save much needed space and users can choose a model to be configured for tabletop or kiosk self-service use. Leveraging the printer with a Newcastle POS powered cart, retail and hospitality businesses are provided with a fully mobile line-busting solution their busy environments demand." The Newcastle POS powered cart is equipped with an integrated power system designed to hold and power up to four devices for at least eight hours of normal use. When power is running low, businesses can swap out a battery for continuous AC Power. Newcastle Systems has previously integrated Epson ColorWorks® on-demand color label printers into its mobile-powered workstations to create ideal solutions for on-demand finished goods labeling, as well as Epson WorkForce® Pro WF-M5299 monochrome inkjet printers for battery-powered mobile workstations for round-the-clock warehouse shifts. About Epson Epson is a global technology leader dedicated to co-creating sustainability and enriching communities by leveraging its efficient, compact, and precision technologies and digital technologies to connect people, things, and information. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson's goal is to become carbon negative and eliminate use of exhaustible underground resources such as oil and metal by 2050.

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POS RETAIL

NRS Partners with OnPoint to Offer Services for Independent Retailers

National Retail Solutions | April 08, 2022

National Retail Solutions (NRS), operator of the nation’s leading point-of-sale (POS) network and payment processing service for independent retailers, today announced a partnership with OnPoint, a leading provider of scan data programs for the independent and small chain C-store market. Through the partnership, OnPoint will promote the NRS POS system and payment processing service to prospective C-store clients who require a robust POS solution to utilize OnPoint’s scan data programs and full calendar of center-store promotions. “NRS and OnPoint provide complementary, synergistic offerings to help independent retailers successfully compete against larger retail chains. Our partnership positions both companies to expand our respective networks while providing independent retailers with powerful tools to enhance profitability and extend market reach.” Elie Y. Katz, CEO of NRS NRS’ POS network currently provides over 16,000 retailers with powerful tools and services enabling them to compete effectively with large retail chains. NRS’ payment processing solution, NRS PAY, is a rapidly growing credit card and electronic payment processing service utilized by over 8,000 retail stores. OnPoint’s partnership with NRS is supported by WAM, a nationwide network of distributors in the C-store space and the owner of OnPoint. OnPoint provides scan data services exclusively to the independent and small chain C-stores served by the WAM network. “A significant portion of the retailers throughout the WAM network are looking for an affordable and easy to use POS system that is compatible with OnPoint, so that they can take advantage of all the value-added services that we provide. Our partnership with NRS provides a best-in-class, turn-key solution for this,” said Win Schiller, President of OnPoint. About National Retail Solutions (NRS) National Retail Solutions operates a point-of-sale (POS) terminal-based platform and digital payment processing service for independent retailers and bodega owners nationwide. Retailers utilize NRS offerings to process transactions and manage operations more effectively. Advertisers access the terminal’s digital display network to reach these retailers’ massive, predominantly urban customer bases. Consumer packaged goods (CPG) suppliers leverage the NRS platform to provision promotions, coupons and special offers to independent retailers. About OnPoint OnPoint is a scan data service provider that was developed specifically to help independent and small chain convenience stores be more competitive and increase profitability. Our powerful scan data solution allows retailers to take advantage of the tobacco scan programs and center-store promotions from the best brands. OnPoint is owned by the WAM group. About WAM WAM is a nation-wide network of 25 convenience store distributors servicing over 13,000 zip codes. These distributors do $10.8 billion in aggregate sales annually and service over 23,000 C-stores, making the WAM group the third largest distribution entity in the c-store channel.

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Spotlight

MOBILE POS BEYOND RETAIL It’s not just retail that’s riding the coat-tails of mobile POS. One science museum met donation and membership goals thanks to a tablet-based mobile POS solution. 88% increase in donor loyalty potential with a mobile POS solution. Donations up 15%, administrative overheads down.

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